America has issued a stern warning to global shipping and finance firms. Cooperation with Iran’s new Persian Gulf Strait Authority could invite US sanctions. This move escalates pressure on Tehran’s control over the vital Strait of Hormuz. The US Treasury Department stated that such cooperation might support Iran’s Revolutionary Guard Corps.
Jakson Group has named Sourav Ganguly as its first brand ambassador. Ganguly will represent the company in campaigns promoting sustainable energy. He expressed his pleasure in joining a company contributing to India’s energy transition. Jakson Group’s chairman believes Ganguly’s credibility will boost the brand and accelerate the adoption of sustainable solutions.
Reliance Industries, ONGC, and BP Exploration have formed a joint operating agreement to explore Block GS-OSHP-2022/2 in the Saurashtra Basin. ONGC will operate the block, awarded under the Hydrocarbon Exploration and Licensing Policy. The consortium aims to assess and develop the hydrocarbon potential of the 5,454 square kilometre offshore area.
As 2026 begins, oil is no longer just a traded commodity — it is once again a weapon of geopolitics. From Venezuela’s re-emergence as a strategic battleground to the Arctic’s thawing frontiers and Greenland’s growing importance, global powers are moving to secure future energy and resource dominance.
State-run ONGC has cancelled a tender for jack-up rigs due to concerns over unusual price hikes and bid patterns, suspecting collusive practices. The company observed a nearly 60% increase in day rates within nine months, significantly exceeding market norms. ONGC aims to ensure fair competition and safeguard public funds by upholding procurement integrity.
The Supreme Court has overturned a Gujarat High Court ruling. Adani Power Limited will receive a refund for customs duty paid on electricity. This duty was levied on power generated in a Special Economic Zone and supplied domestically. The court stated that previous judgments had already declared such levies invalid.
Trump tariffs on India: The US decision to double tariffs on Indian goods due to Russian crude purchases has placed India in a difficult position, potentially disrupting its refining industry and straining relations with both Moscow and Washington. While India saved modestly on discounted Russian oil, its exports to the US are substantial.
Adani Electricity Mumbai, Tata Power Delhi Distribution, and Noida Power Corporation lead the nation’s electricity distribution companies in FY25, according to a Power Finance Corporation report. The rankings assess institutional capability, financial sustainability, operational efficiency, and service delivery. Power Minister Manohar Lal emphasized coordinated efforts for affordable and efficient power, alongside renewable energy transition and…
Indian refiners are making payments for Iranian oil using Chinese yuan. This is happening through ICICI Bank’s Shanghai office. Indian Oil and Reliance have bought shipments under a temporary U.S. sanctions waiver. This payment method has not been previously reported. India has also used yuan for Russian oil. The U.S. waiver on Iranian oil is…
At Reliance Industries’ 48th AGM, Anant Ambani said global energy markets faced supply disruptions, trade shifts and petrochemical overcapacity, but Reliance delivered strong performance. He announced ₹75,000 crore investments in new projects, highlighted Hazira’s upcoming carbon fibre facility, and stressed E&P’s role in India’s energy security. Mukesh Ambani called India’s rise unstoppable, even as Reliance…